Agriculture Secretary Francisco P. Tiu Laurel Jr. on Sunday said President Ferdinand R. Marcos Jr. has approved the extension of the rice import ban until the end of the year to help stabilize farmgate prices of palay.

Tiu Laurel said the executive order formalizing the extension of the import suspension will be released on 03 November.

“With the import ban having little impact on retail prices and supply of rice but a significant effect on the farmgate price of palay, President Marcos deemed it necessary to extend the suspension for two more months,” Tiu Laurel said.

The president initially suspended rice imports for two months, until 31 October, to counter the sharp decline in palay prices ahead of the wet harvest season. While the measure briefly lifted prices, the gains tapered off as the suspension neared its expiry.

Tiu Laurel said that with harvests still ongoing in several regions, the extended import ban—together with the rollout of the Sagip Saka program and the establishment of a floor price for palay—should help support struggling rice farmers.

In an earlier Senate hearing, the DA chief noted that over-importation and poor-quality harvests in some areas, worsened by bad weather, had depressed farmgate prices.

Department of Agriculture projections show that rice availability will remain adequate even under a 120-day import suspension. Conservative estimates place supply at 89 days by year-end, while optimistic scenarios project up to 92 days, considering 122.7 kilograms per annum as the projected per capita consumption compared with just 58 days’ worth of stocks at the end of 2024.

Tiu Laurel said he recommended the extension to the president as “a necessary measure to provide sustained support to local producers, maintain market stability, and allow a more comprehensive assessment of the policy’s effects.”

Despite the suspension, retail rice prices have remained broadly stable, according to the DA’s Agribusiness and Marketing Assistance Service (AMAS). The agency projects that by November, well-milled rice will average around P42 per kilo, while regular-milled rice will hover near P40.

The agriculture chief said the extension would also enable a fuller evaluation of the ban’s impact on both farmgate and retail markets, while continuing to shield local farmers from the downward pressure of cheaper imports.